Nonfungible tokens (NFTs) experienced a record-breaking year in 2021, with sales exceeding $14 billion, avatar collectibles penetrating the mainstream market and becoming cultural status symbols, and avant-garde utility sparking innovative Web3 opportunities across a variety of industries .
Despite a decline in financial and emotional fortunes in the opening quarter of 2022, expectations are rising within the NFT community regarding the upcoming schedule of calendar events such as the launch of Coinbase’s public NFT platform and the potential for OpenSea and MetaMask tokens.
In an exclusive interview with Jordan Fried, CEO of Immutable Holdings and founder of NFT.com, Cointelegraph learned Fried’s perspective on Buffett’s impact on Web3 ideologies, the forthcoming release of NFT.com, and the use of Hedera’s consensus service to track minting of profiles.
Fried has been active in the cryptocurrency space since 2012, using Bitcoin as a payment method in a VPN business and later as a core member of the founding team of distributed ledger technology Hedera Hashgraph, personally recruiting Google, IBM, Boeing and LG Electronics to join the Hedera Governing Council at.
A little over a year ago, he founded Immutable Holdings, a blockchain management company that now operates with over $80 million in assets under management (AUM) with a mission to “democratize access to blockchain technology.”
Citing the unaffordable access to many traditional markets in which accredited investors engage in walled-garden fundraising, Fried defined that his vision for Immutable Holdings is to provide greater access for retail participants, coupled with the desire to Business to scale into the Berkshire Hathaway of the US blockchain industry.
On September 28th, Immutable Holdings became publicly traded on the NEO Canadian Stock Exchange under the ticker HOLD and is currently trading at $1.35 CAD.
Earlier in the conversation, Fried made a bold prediction — mirroring Coinbase CEO Brian Armstrong’s comment in a recent chat about the launch of the NFT marketplace — that NFTs have demonstrated the financial potential to increase the value of crypto assets in overshadowed in the years to come.
“Everything we possess in the physical verse and metaverse is presented in the form of an NFT. So when you add up that total value, it will likely be a lot more than the $1.9 trillion worth of coins circulating on CMC today.”
Fried consistently made known his willingness to emulate Warren Buffett’s accomplishments and acknowledged his legacy assets, but openly criticized his lack of responsiveness to technological advances, stating:
“No disrespect to the Oracle of Omaha, but this man missed every single technological wave of his life. He’s one of the best investors of our generation, but when it comes to bitcoin and blockchain, he just hasn’t delved into it enough.”
Fried’s newest project, NFT.com, is a decentralized platform for creators, artists, and collectors to trade and distribute the value of NFTs, engage in digital discourse, and operate and engage in a community-managed ecosystem – Fried doesn’t see himself as CEO of NFT.com, but as “Chief Decentralization Officer”.
Beginning with an initial NFT release, the platform will include: profile name NFTs and a Web3 social network, a cross-chain data hub consisting of leaderboards, leaderboards and data statistics on a litany of NFT collections – similar to a CoinMarketCap of NFTs – and a peer-to-peer marketplace.
Together, these services will aim to support the overarching goal of becoming a one-stop shop for all things irresponsible.
If you’re not currently part of a DAO, don’t worry; By this time next year it will be you.
— Jordan Fried (nft.com) (@jordanfried) December 17, 2021
As an entrepreneur who has thrived on the last two iterations of the web, Fried places great emphasis on the potential of Web3 to reshape the internet through the concerted formation of blockchain-powered DAOs, which he says will take two to three years to “rebuild the internet to design”. behind the curve of NFTs in terms of consumer recognition and engagement.
“We aim to decentralize NFT.com over time by inviting the community to lead – where it is the community of creators, artists and users who will help shape the future of the platform.”
Related: Coinbase announces beta of NFT marketplace with social engagement
A number of new appointments, including Jeanna Liu as Chief Operating Officer at Immutable Holdings and Balaji Srinivasan as Strategic Advisor at NFT.com, were sought to bolster the team’s expertise.
Existing NFT.com partners include Shark Tank Tycoon, Kevin O’Leary and Snoop Dog under his NFT alias Cozomo de’ Medici, as well as Logan and Jake Paul.
.@Hedera is a top 10 network. It’s only a matter of time.
— Jordan Fried (nft.com) (@jordanfried) May 14, 2021
When asked if the platform will be built on top of Hedera, as many community participants have rumored due to its cohesive relationship with the network, Fried explained that while his vision is a multi-protocol world, he exclusively revealed that “we launch first and especially on the Ethereum network because there are over 200 million accounts and that’s where the users are.”
“The way we will manage NFT.com is through Genesis keyholders. So if you have a preferred NFT protocol, the best way to ensure it gets integrated is to do so [acquire] a Genesis key and vote on which protocols we should consider integrating with.”
Despite the user profiles and Genesis keys existing on Ethereum, the Hedera consensus service was implemented to ensure fairness and improve traceability of the profile minting process.
Stressing the importance of supporting NFTs wherever they exist in Web3, he speculated that Hedera, Solana, and Polkadot might be destined for future integrations due to their popularity, and announced his own intentions of being his sole vote for the Inclusion of Hedera in Web3 Proposals for democratic snapshots.
“I really want your NFT.com profile to be your address in a digital world where people can visit you. It’s a destination, your home on the Web3, a metaphysical experience where the physical verse and the metaverse collide.”
https://cointelegraph.com/news/web3-offers-us-the-promise-to-rearchitect-the-internet-says-nft-com-founder-jordan-fried “Web3 offers us the promise of reshaping the Internet,” said NFT.com founder Jordan Fried